CBI books record AED529mn in FY2024 profits as loans surge and liquidity improves
CBI reports record profits for 2024, driven by strong loan growth, operational efficiency, and financial resilience.
Abu Dhabi
Dubai and Abu Dhabi rank first globally in ease of entry for skilled talent, says new report
Abu Dhabi and Dubai ranked first globally for ease of entry, driven by open immigration policies that attract top talent. GCC cities thrive in services and innovation, leading economic diversification efforts.
GCC IPOs secure $1.7bn in Q3 for FY2024, driven by Abu Dhabi and Saudi markets
GCC IPOs raised $1.7 billion in Q3 2024, led by NMDC Energy in Abu Dhabi and several key offerings in Saudi Arabia. Q4 promises more activity with Lulu Hypermarket and Talabat set to list.
UAE’s LuLu Group launches 25% stake IPO on ADX, targeting up to $1.8bn
LuLu Group is launching a three-tranche IPO, offering 25% of its stake on the Abu Dhabi Securities Exchange starting 28 October 2024. The retail giant aims to raise between $1.7 and $1.8 billion, with plans to allocate shares to employees and pay a 75% dividend on annual profits.
UAE and Ireland sign extradition, anti-money laundering pacts to combat organised crime
The UAE and Ireland have signed two agreements to strengthen cooperation in fighting organised crime and facilitating extradition. The treaties streamline legal processes and enhance mutual legal assistance, reinforcing their partnership in combating transnational crime.
First Abu Dhabi Bank exceeds Q3 forecasts with AED4.46bn profit despite rising impairments
First Abu Dhabi Bank (FAB) reported a Q3 profit of AED 4.46 billion, exceeding estimates due to higher revenue growth, despite a rise in impairment charges. Total assets grew to AED 1.2 trillion, reinforcing FAB’s position as the largest lender in the UAE.
UAE Ministry of Justice launches virtual lawyer project to revolutionise legal sector with AI
The UAE Ministry of Justice is pioneering a 'virtual lawyer' project, the first in the region, using AI to streamline legal procedures in simple cases. This initiative promises to accelerate litigation, enhance legal services, and future-proof the UAE’s judicial system.
The women shaping the future of the UAE
Women in Abu Dhabi are leading across government, business, arts, and STEM, shaping the emirate’s future in line with Vision 2030.
UAE authorises AED stablecoin, with dirham-pegged tokens to compete in crypto
The UAE’s Central Bank has approved AED Stablecoin, positioning it as the first regulated dirham-pegged stablecoin, while Tether plans to enter the market with its own version.
UAE president to visit Russia, marking the Emirates’ first BRICS summit
Sheikh Mohamed bin Zayed’s visit to Russia strengthens economic and energy ties with President Putin, highlighting the UAE’s growing global influence. The UAE’s debut at the BRICS Summit signals its rising status on the international stage.
